OSI Group, the largest producer of processed foods in the world, spent the year 2016 doing some significant purchases. The company did the purchases with the aim of expanding its business operations. OSI made the first buy in the local market.
OSI bought a food processing and storage facility located in Chicago. Tyson Foods formerly owned the plant. The location of the new plant is near another one, OSI previously owned. The expansion of the company has enabled it to register some continued growth in recent years. The acquisition of the plant in Chicago has created more space for the company to process more products for their market in North America.
The company’s customer base has been growing over the years resulting in an increasing need to satisfy the market. Kevin Scott, the senior executive vice president for North America, expressed joy with the manner in which the company has moved with speed to address the needs of the customers. He also added that it was a great accomplishment for the company to add the facility to its assets list.
Read more on Indeed.com
The other acquisition that happened in 2016 involved foreign companies. OSI Group acquired a controlling stake Dutch company, Baho Food. This company serves its customers with foods such as meat, snacks, and convenience food. According to David McDonald, the president and chief operating officer of the company, the acquisition of Baho Food will improve the presence of OSI Group in the European market.
Baho Food has several subsidiaries in the region. This means that the deal will give OSI Group a strong influence in the European market. Significant impact will be in Germany and the Netherlands. Even as OSI acquired Baho Food, it retained its senior management. The focus of the deal was to look for options that would allow both parties to benefit. The companies want to work together so that they can achieve success together. This is a new market for Baho Food, and it can only serve them well if they partner with a company which understands the dynamics of the industry. It is evident that OSI Group wants to take over the European market in the shortest time possible.
Search more about OSI Group: https://www.monster.com/jobs/c-osi-group.aspx